Ether / USD may rise to 2808 - 2839

2702 is our pivot point.

Our preference

The upside prevails as long as 2702 is support.

Alternative scenario

The downside breakout of 2702 would call for 2650 and 2620.

Comment

The RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 2712 and 2673).

Supports and resistances

2900 **

2869 *

2839 **

2808

2743 last

2722

2702 **

2650 *

2620 **

Number of asterisks represents the strength of support and resistance levels.